- Robyn Turk |
Americans were busy shopping this holiday season. Holiday sales grew by 5.1 percent in the United States this year, amounting to over 850 billion dollars in sales across industries, research from Mastercard SpendingPulse found. This year has marked the strongest growth in the U.S. in six years.
Though the report was provided by MasterCard, it provided insight into overall retail spending trends across all payment types, considering cash and check payments as well. The report looked into holiday shopping during the busiest times for holiday shopping, the period from November 1 to December 24. MasterCard SpendingPulse found that online shopping specifically grew by 19.1 percent during this period.
Apparel sales saw the strongest growth since 2010
This holiday season, apparel in particular saw strong retail results. The industry witnessed a growth rate of 7.9 percent in comparison to 2017 spending. These figures mark the best growth rate in the apparel industry in eight years.
The Mastercard SpendingPulse report noted that the final quarter of 2018 was a particularly strong season for apparel. The retail industry began a strong period of momentum during the back-to-school period in early fall, and continued to accelerate right through Christmas.